Laurion Capital Management LP decreased its stake in PPD, Inc. (NASDAQ:PPD) by 88.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,904 shares of the company’s stock after selling 354,196 shares during the period. Laurion Capital Management LP’s holdings in PPD were worth $2,116,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in PPD by 13.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,882 shares of the company’s stock worth $1,055,000 after purchasing an additional 2,630 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of PPD by 14.1% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 51,100 shares of the company’s stock worth $1,934,000 after acquiring an additional 6,300 shares during the period. Toronto Dominion Bank lifted its stake in shares of PPD by 9.9% in the 2nd quarter. Toronto Dominion Bank now owns 18,186 shares of the company’s stock worth $860,000 after acquiring an additional 1,645 shares during the period. TD Asset Management Inc. lifted its stake in shares of PPD by 11.7% in the 1st quarter. TD Asset Management Inc. now owns 508,673 shares of the company’s stock worth $19,248,000 after acquiring an additional 53,332 shares during the period. Finally, Mcdonald Capital Investors Inc. CA acquired a new stake in shares of PPD in the 2nd quarter worth $350,000. Institutional investors and hedge funds own 87.87% of the company’s stock.
Several analysts have recently commented on PPD shares. Zacks Investment Research upgraded shares of PPD from a “sell” rating to a “hold” rating in a research note on Saturday, September 25th. Deutsche Bank Aktiengesellschaft upgraded shares of PPD to a “buy” rating and set a $47.00 price target for the company in a report on Tuesday, August 31st. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.00.
PPD (NASDAQ:PPD) last posted its earnings results on Wednesday, July 28th. The company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.05. PPD had a net margin of 3.85% and a negative return on equity of 53.95%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.34 billion. Research analysts anticipate that PPD, Inc. will post 1.32 earnings per share for the current year.
PPD, Inc, together with its subsidiaries, provides drug development services to the biopharmaceutical industry worldwide. The company operates through two segments, Clinical Development Services and Laboratory Services. It offers clinical development services, including product development and consulting, early development, Phases II-IV clinical trial management, accelerated enrollment, peri-and post-approval, and medical communications services.
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